Economic Minister Padoan confident in Italy's recovery

Italian Economy Minister Pier Carlo Padoan defends the government estimates the country's economy. And in testimony before the House Budget Committee, it stressed that the "recovery will increase and with it employment. The public finances improved, the tax burden falls" through "a strict fiscal policy and expansionary measures and structural reforms" that continue despite the worsening of the international and geopolitical "framework" of which our forecasts take into account. "

The minister recalled that "in 2015 after three consecutive years of contraction, the Italian economy returned to growth in 2016 and the recovery will continue and be strengthened. In the first quarter of the growth appears to have regained momentum." For Padoan, however, the primary objective of the government remains the "reduction of the general government debt stock remains a priority objective of the government is crucial in the" market confidence. The minister also stressed that, for the first time in 2016 the debt will decline and that "the process of reducing the ratio to GDP will accentuate the coming years, thanks to the privatization to 0.5% of GDP." also confirmed the intention of the government to "sterilize" the entire escape clauses for 2017 to 0.9 percent of GDP. An operation that yesterday Bankitalia criticized because it "threatens to undermine market confidence."

Padoan then recalling the great efforts that is making Italy launching a dig at "the pitch of the fiscal policy in the euro" that "is restrictive," while "are unsatisfactory progress of many countries in structural reforms" which Italy is making great efforts instead.


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